Replying to Avatar average_bitcoiner

Supply preceeds demand.
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szarka 8mo ago

The expectation of future demand is what creates supply.

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average_bitcoiner 8mo ago

Expectation is only for things that haven't arrived. As in, it's not there. The future doesn't exist. It is expected.

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szarka 8mo ago

The *expectation* does exist, though, in the mind of the entrepreneur.

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average_bitcoiner 8mo ago

Anything can exist in a mind without it actualizing into physical reality. Not great to plan on the whims of the mind.

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szarka 8mo ago

That would be a problem with *central* planning, I agree. The beautiful thing about the market process is that it allows market actors to coordinate so that their expectations are, more often than not, fulfilled.